RAK ICC Company Formation (2026)

A RAK ICC company is the most widely used offshore company in the UAE. It can hold shares, property, intellectual property and investments for owners anywhere in the world, with 100% foreign ownership, no minimum share capital, no audit requirement and a published registry fee of AED 3,250. RAK ICC incorporates a company within 2 working days of a complete file.

The hard part is the process around it. RAK ICC only accepts applications through a registered agent, the file needs certified and notarised documents for every owner, and most founders only learn about the corporate tax registration, the UBO filings and the banking checks after the company exists. Get those wrong and the fines and delays start in year one.

This is where we come in. We handle your whole RAK ICC company formation with our licensed registered agents: the structure, the KYC pack, the memorandum, the registry filing and the UBO register. One team, one clear quote and a company within days.

Comparing all three UAE offshore registries? Read our guide to offshore company setup in the UAE.

Why Choose RAK ICC Company Formation

RAK ICC company formation gives you a low-cost, lightly regulated holding company in a respected Gulf jurisdiction. The Ras Al Khaimah International Corporate Centre runs its companies under the RAK ICC Business Companies Regulations 2018, and it publishes its full fee schedule, which most UAE offshore registries do not.

Low, Published Registry Fees

RAK ICC's 2026 fee schedule, effective 1 January 2026, sets incorporation at AED 3,250 for one year and renewal at AED 3,950. You can register or renew for up to three years at once: AED 9,600 to incorporate for three years and AED 10,650 to renew for three. No other UAE offshore registry publishes a schedule this complete.

Fast Incorporation

RAK ICC states that an international business company is incorporated within 2 working days of a complete submission. Urgent same-day processing costs AED 1,250. Most of the time goes on preparing the documents, not on the registry.

100% Foreign Ownership and No Minimum Capital

A RAK ICC company can have one shareholder, up to 50, of any nationality, and there is no minimum share capital. Shares can be issued with or without par value and in any currency. Bearer shares are banned under Regulation 50(1), which keeps the company acceptable to banks.

No Audit Requirement

RAK ICC does not require an audit or the filing of financial statements with the registrar. The company must still keep accounting records that explain its transactions and financial position, and it files an annual return with its renewal. RAK ICC fees for that renewal are published too.

Dubai Property Access

On 16 July 2019 the Dubai Land Department signed a memorandum with RAK ICC and RAKEZ allowing their companies to register freehold property in Dubai, subject to a No Objection Letter. RAK ICC's 2026 schedule prices that certificate at AED 1,250 per property. For many owners, this is the main reason to choose RAK ICC company formation.

Flexible Structures

RAK ICC offers companies limited by shares, companies limited by guarantee, unlimited companies, restricted purpose companies, segregated portfolio companies and foundations. You can hold a family's assets, a trading group's intellectual property or a single property in the structure that fits it.

RAK ICC Company Types

Regulation 5(1) of the Business Companies Regulations lists four company types, and RAK ICC adds restricted purpose and segregated portfolio companies in its own guidance, plus foundations under separate regulations. Most founders need a company limited by shares.

Company Limited by Shares

This is the standard RAK ICC offshore company. Shareholders are liable only up to the amount unpaid on their shares, the name ends in "Limited", "Ltd", "Incorporated" or "Inc.", and it suits holding shares, property, IP and investments. Choose it unless you have a specific reason not to.

Company Limited by Guarantee

Members guarantee a set amount towards the company's debts instead of buying shares, with or without the power to issue shares. It suits clubs, associations and non-profit style vehicles more than commercial holding.

Unlimited Company

Members carry unlimited liability for the company's debts. It is rarely used and suits specialist structures where limited liability is not wanted.

Restricted Purpose Company

A restricted purpose company is limited to a narrow set of activities, a maximum of two according to RAK ICC, and is used for special purpose vehicles in finance and property deals.

Segregated Portfolio Company

A segregated portfolio company keeps the assets and liabilities of each portfolio separate from the others. RAK ICC charges AED 1,500 per portfolio. It suits investment and insurance structures.

RAK ICC Foundation

A foundation has no shareholders and holds assets for beneficiaries or a purpose, under the RAK ICC Foundations Regulations 2019 as amended on 31 July 2025. It needs a council of at least two members and initial assets of USD 100. Registration and renewal each cost AED 1,500, plus an annual licence of AED 750. It suits family wealth and succession planning.

RAK ICC Company Formation for Non-Residents

RAK ICC company formation for non-residents is the normal case, not the exception, and our guide on how to set up a company as a non-resident covers the wider picture. Most RAK ICC companies are owned by people and groups outside the UAE. You do not need to visit the UAE, hold a visa or appoint a local shareholder.

No Travel Needed

RAK ICC does not require the legalisation of foreign corporate documents. Documents signed outside the UAE must be notarised, and anything not in English or Arabic needs a certified translation, but there is no embassy chain. We collect everything remotely.

Owners and Directors Anywhere

A RAK ICC company needs at least one shareholder and at least one director, and at least one director must be a natural person. Corporate directors can sit alongside. Nobody on the board needs to live in the UAE.

A Registered Agent and Office in the UAE

Every RAK ICC company must have a registered agent at all times under Regulation 92, and its registered office is the agent's office. That is the local presence the law asks for, and our registered agents provide it.

No Residence Visa Through the Company

A RAK ICC offshore company has no trade licence and cannot sponsor residence visas. Owners who want a UAE visa add a free zone or mainland company to the structure. RAK ICC's own premium products do this by adding a RAKEZ subsidiary, and our guide to RAKEZ company formation explains that free zone. The Dubai investor visa is the usual route for owners.

What a RAK ICC Company Can and Cannot Do

A RAK ICC company is built to hold and manage assets, not to trade in the UAE. Regulation 40(5) says no company may carry on business with persons in the Zone unless RAK ICC expressly authorises it, and no company may provide financial services by way of business anywhere in the world.

What It Can Do

Regulation 40(6) lists activities that do not count as carrying on business, and they are the real product. A RAK ICC company can:

• Hold shares in companies in the UAE and abroad
• Own Dubai freehold property through the Land Department route
• Hold intellectual property, investments and bank accounts
• Keep its books and hold board meetings in the UAE
• Use UAE lawyers, accountants and management companies
• Trade internationally with customers outside the UAE

What It Cannot Do

It cannot run financial services such as deposit taking, e-money, lending, insurance, securities dealing or collective investment schemes. It cannot sell to UAE customers without authorisation, open a UAE shop or office, or sponsor visas. For those, it needs a subsidiary.

The Mainland Subsidiary Route

In August 2021, Ras Al Khaimah allowed RAK ICC companies to carry out mainland activities in the emirate through subsidiaries licensed by the RAK Department of Economic Development. The offshore company owns the subsidiary, and the subsidiary holds the licence and the visas. Our guide to mainland company formation in the UAE explains the mainland side.

Common Uses

Founders use RAK ICC companies as holding companies above an operating group, as property holding vehicles for Dubai freehold, as IP holding companies, for family wealth through a foundation, and as special purpose vehicles in investment deals. Our guide to setting up a holding company in Dubai covers the onshore alternative, and our list of the best jurisdictions for non-resident company owners compares options abroad.

How to Register a RAK ICC Company

RAK ICC company registration runs through a registered agent from start to finish, and we run each step for you. You do not need to deal with the registry or learn its forms. From a complete file, the company is incorporated within 2 working days.

Agree the Structure and the Name

We confirm the company type, the activities, the shareholders and directors, and a name that ends in an approved suffix. Names with restricted words need registrar approval, and a name reservation can be extended for 90 days for AED 550.

Build the KYC File

We collect certified passports and proof of address for every shareholder and director, and the corporate documents for any company shareholder, then check them against RAK ICC's checklist. Documents must be dated within 3 months.

Draft the Memorandum and Articles

We prepare the memorandum and articles of association, signed by all shareholders, and the agent appointment letter. Custom clauses need a lawyer's legal opinion under RAK ICC's rules, so we keep to the standard form where it fits.

File With RAK ICC

Our registered agent files the application and pays the registry fee. RAK ICC incorporates the company within 2 working days of a complete submission and issues the certificate of incorporation, which can be verified on its online portal.

After Incorporation

We set up the registers, including the beneficial owner register, issue share certificates, register the company for corporate tax within 3 months and prepare the bank file. Our guide to UAE corporate tax for companies explains the tax side.

Documents Needed for RAK ICC Company Registration

RAK ICC publishes its incorporation checklist, and the list is short. Documents signed outside the UAE must be notarised, foreign-language documents need a certified English or Arabic translation, and everything must be dated within 3 months. RAK ICC does not require embassy legalisation.

For Each Individual Shareholder and Director

• A certified passport copy
• Certified proof of residential address, such as a utility bill, tax bill, tenancy contract or bank statement
• A consent letter for each director

For a Corporate Shareholder

• Certificate of incorporation and memorandum and articles
• A certificate of incumbency or register extract, and a certificate of good standing
• The authorised signatory's passport
• Beneficial owner details traced to the real people behind it
• A board resolution approving the new company

For the Company

The memorandum and articles signed by all shareholders and the letter appointing the registered agent complete the file. Banks will later ask for more, such as a CV, a bank reference and source of funds evidence, so we collect those at the same time.

RAK ICC Company Formation Cost in 2026

Our RAK ICC company formation service starts from €1,899. It covers structure advice, your KYC pack, the memorandum and articles, filing through our registered agent and the UBO register, handled end to end and confirmed in writing before you pay. RAK ICC's own fees are listed in the same quote at the published rates. Foundations, segregated portfolio companies and high-risk activities are quoted separately and can cost more.

RAK ICC Fees in 2026

RAK ICC fees are set by its 2026 schedule, effective 1 January 2026. These are the ones most companies meet.

The AED 12,500 on the schedule for registered agent onboarding is what an agent pays RAK ICC for its own licence, not what you pay. Agent all-in packages commonly land around AED 8,500 a year against the AED 3,250 registry fee, and the difference is the agent's work.

Realistic First-Year Cost

The total for a RAK ICC company setup moves with the structure. A single-shareholder holding company sits at the low end. More shareholders or activity groups, a property NOC, a high-risk activity or a foundation push it up. Our guide to offshore company formation in Dubai sets out the JAFZA costs for comparison.

RAK ICC Company Setup Costs by Profile

RAK ICC company setup costs vary by what the company is for, and RAK ICC fees are only one part. These ranges use RAK ICC's published fees and typical agent pricing, and match the table above.

How Long RAK ICC Company Formation Takes

RAK ICC incorporates a company within 2 working days of a complete file, or the same day with urgent processing. With us, the whole process usually takes about a week, because most of the time goes on collecting and certifying documents.

What Slows It Down

Delays come from documents older than 3 months, missing notarisation, corporate shareholders without incumbency certificates and owners whose beneficial ownership chain is unclear. Each one sends the file back to the agent.

How to Speed It Up

Send certified documents in one batch, keep the structure simple and confirm the beneficial owners before filing. Pay for urgent processing only if a deal date depends on it.

Tax and Compliance After RAK ICC Company Formation

A RAK ICC company is light on paperwork, but it is not outside UAE law. Corporate tax, the beneficial owner rules and the renewal calendar all apply, and each carries fines.

Corporate Tax Applies

A company incorporated in the UAE is a resident person for corporate tax, and that includes a RAK ICC offshore company. It must register within 3 months of incorporation, or pay an AED 10,000 penalty, and file a return within 9 months of each tax period. The rate is 0% on taxable income up to AED 375,000 and 9% above it. Guides that say RAK ICC companies are exempt from corporate tax are out of date.

The Free Zone 0% Rate Is Unlikely

Whether a RAK ICC company can be a Qualifying Free Zone Person has never been settled publicly, and in practice it rarely works. The rate needs real substance in the zone, audited accounts, and qualifying income, and Ministerial Decision No. 229 of 2025 makes owning or exploiting immovable property an excluded activity. A company holding a Dubai apartment cannot earn qualifying income from it.

Beneficial Owner Register

RAK ICC's Beneficial Ownership Regulations 2019, which follow the same logic as the wider UBO requirements in AML compliance, require the registered agent to report anyone with 25% or more of the shares or votes, and to notify changes within 15 days. The federal rules in Cabinet Decision No. 109 of 2023 set the same 25% threshold. Fines under RAK ICC's rules reach AED 20,000.

Renewal and the Annual Return

Renewal is due every year on the incorporation anniversary, and applications go in 30 days before expiry. RAK ICC gives a 30-day grace period, then adds 10% in month two, 15% in month three, 25% in month four and 50% in month five. In month six it issues a strike-off notice. Restoration after strike-off costs AED 550 plus all outstanding fees.

Records and No Audit

There is no audit, but the company must keep records that show and explain its transactions and its financial position, for at least 5 years. Economic substance reporting no longer applies: Cabinet Decision No. 98 of 2024 limited it to financial years up to 2022, as our guide to economic substance regulations in the UAE explains.

Business Banking for RAK ICC Companies

Banking is the step where offshore companies struggle most. A RAK ICC company has no trade licence, so the fast UAE digital accounts are closed to it, and branch banks that consider offshore files ask for higher balances, longer reviews and a clear reason why the money belongs in the UAE.

Local Banks and Their Limits

UAE banks publish no policy on offshore companies either way, and most business packages are built for licensed companies with a resident signatory. Where a branch does take an offshore file, expect a minimum balance of AED 25,000 to AED 50,000 or more, an in-person meeting and weeks of review. Read more in our guide to the best offshore business bank accounts in the UAE.

Faster Accounts Through Our Payment Partners

Our regulated payment partners open multi-currency accounts for RAK ICC companies owned from abroad in days, online, with no minimum balance and no resident signatory. Fees are published, from about €30 to €100 a month, and cross-border payments and currency exchange cost far less than at a branch. They work best where the offshore company has real transaction flow or sits above an operating company. Read more in our guide to a business bank account for non-residents and on opening an offshore bank account in Dubai.

RAK ICC vs JAFZA Offshore, Ajman Offshore and the Isle of Man

Founders choosing RAK ICC usually compare it with the other two UAE offshore registries, and many international holding structures also look at the Isle of Man, which charges 0% company tax on most activities.

RAK ICC is the cheapest and lightest of the UAE registries, with the most published detail. JAFZA costs more and adds an audit, but gives the cleanest Dubai property rights. Ajman publishes almost nothing. The Isle of Man suits groups that want a well-known holding jurisdiction outside the UAE.

RAK ICC vs JAFZA Offshore

JAFZA Offshore is the only offshore registry inside Dubai. It charges AED 10,000 to register and AED 2,500 to renew, requires a company secretary and an annual audit, and keeps records for 10 years. Choose it when Dubai property is the main purpose and you want the property rights in the registry's own regulations. Read our guide to JAFZA offshore company formation.

RAK ICC vs Ajman Offshore

Ajman Free Zone publishes no offshore fee schedule, and agent quotes range from about AED 7,500 to AED 20,000. Its property rights are limited to Ajman. It suits owners with a reason to be in Ajman, while RAK ICC suits almost everyone else. Read our guide to Ajman offshore company formation.

RAK ICC vs the Isle of Man

An Isle of Man company pays 0% tax on most profits, sits in a Crown Dependency with a long legal record and is well known to European banks. It suits groups whose owners and banks are in Europe. Our guide to setting up a company in the Isle of Man explains the route.

Who a RAK ICC Company Is Wrong For

A RAK ICC company is the right tool for holding assets. For some founders it is the wrong one.

You Want to Sell in the UAE

A RAK ICC company cannot do business with persons in the Zone without authorisation and holds no trade licence. If your customers are in the UAE, you need a free zone or mainland company. Our guide to free zone company formation in the UAE covers that route.

You Want a UAE Residence Visa

The offshore company cannot sponsor visas. You would need a second, licensed company.

You Want a Guaranteed 0% Tax Rate

A RAK ICC company pays UAE corporate tax like any other company, 9% above AED 375,000, and the free zone 0% rate is unlikely to apply.

You Need Financial Services

Regulation 40(5)(c) bars RAK ICC companies from providing financial services by way of business anywhere in the world. A payments, lending or investment business needs a regulated licence instead.

Common Mistakes With RAK ICC Company Formation

Most costly mistakes with a RAK ICC company happen in the first year, and most come from out-of-date guides.

Believing the Company Is Tax-Exempt

Many guides still say RAK ICC companies pay no corporate tax. They must register within 3 months and file every year, and missing the registration costs AED 10,000.

Missing the Renewal Date

Late renewal adds 10% to 50% over five months, and month six brings a strike-off notice. Put the renewal date in the calendar with a 30-day margin.

Forgetting the UBO Filing

The beneficial owner register must be kept current, with changes reported within 15 days. It is easy to miss after a share transfer.

Buying Property Without Checking the NOC Route

The Land Department route needs a RAK ICC no objection certificate, and the Department's default is that shareholders are natural persons. Check before you sign a sale agreement.

Leaving the Bank Account to the End

Founders often form the company and only then find no UAE bank will take it quickly. Plan banking during formation and open a partner account as soon as the certificate is issued.

Bottom Line

RAK ICC company formation gives you a fast, low-cost holding company with 100% foreign ownership, no minimum capital, no audit and a published fee of AED 3,250 to incorporate and AED 3,950 to renew. It can own Dubai freehold through the Land Department route and hold shares, IP and investments for owners anywhere.

It is not a trading company, it cannot sponsor visas and it pays UAE corporate tax. Plan the tax registration, the UBO register, the renewal and the bank account from day one. We handle the whole RAK ICC company setup with our registered agents, file every step and open the account with you, from €1,899.